Bitcoin Daily Chart Alert - Bears Have Technical Advantage - April 5
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price trend reversals. Jim's unique and exclusive daily technical report is an absolute must for any trader/investor/market watcher who closely follows Bitcoin.
(Kitco News) - Bitcoin-U.S. dollar prices are weaker again in early U.S. trading Thursday. Bitcoin bears have the overall near-term technical advantage. Strong chart support lies at the February low. If bulls can keep prices above the February low in the near term, they could then be hopeful a near-term bottom would be in place. A drop in Bitcoin prices below the February low would open the door to another leg down in prices. Stay tuned! Jim Wyckoff